Inuvo, Inc.

Good afternoon and welcome to Inuvo's fourth quarter and full year 2025 conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, March 5th, 2026. I would now like to turn the conference over to Katie Cooper, Director of Marketing. Please go ahead.

Thank you, operator, and good afternoon. I'd like to thank everyone for joining us today for the ANUVO fourth quarter and full year 2025 shareholder update call. Today, ANUVO's chief executive officer, Rob Buckner, and chief financial officer, Wally Ruiz, will be your presenters on the call. We would also like to remind our shareholders that we plan to file our 10-K with the Securities and Exchange Commission this evening. Before we begin, I'm going to review the company's Safe Harbor Statement. The statements in this conference call that are not descriptions of historical facts are forward-looking statements relating to future events, and as such, all forward-looking statements are made pursuant to the Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. When used in this call, the words anticipate, could, enable, estimate, intend, expect, believe, potential, will, should, project, and similar expressions as they relate to ANUVO, Inc., are as such a forward-looking statement. Investors are cautioned that all forward-looking statements involve risks and uncertainties, which may cause actual results to differ from those anticipated by ANUVO at this time. In addition, other risks are more fully described in ANUVO's public filings with the U.S. Securities and Exchange Commission, which can be reviewed, at www.scc.gov. The company makes no commitment to disclose any revisions to forward-looking statements or any facts, events, or circumstances after the date hereof that bear upon forward-looking statements. In addition, today's discussions will include references to non-GAAP measures. The company believes that such information provides an additional measurement and consistent historical comparison of its performance. A reconciliation of the non-GAAP measures to the most directly comparable GAAP measures is available in today's news release on our website. With that, I'll now turn the call over to CEO Rob Buckner.

Good afternoon. Thank you, Katie, and everyone for joining the call today. Before I begin, I'd like to take a moment to thank the entire Inuvo team, as well as our broad group of clients and partners for your support as I've moved into my new position. Thank you for all you do every day for this company. I'd also like to thank Rich Howe and the Anubo board for your confidence in me and for providing an excellent vantage point over these past months as I transition to the new role. As I mentioned on our call in January, I'm taking the helm as CEO at a decisive turning point for our company and for our industry at large. Specifically, as new technologies emerge, consumer behaviors and intent become more widely distributed across digital media and agentic systems, making consumer purchase intent more difficult to ascertain. At the same time, the industry has experienced an increase in sophisticated technologies, often nefarious, that have allowed lower traffic to masquerade as legitimate high intent consumer demand, necessitating quality controls beyond those historically available. This is a systemic industry wide issue. As such, The industry has been subject to increased regulation both due to consumer privacy concerns and because of platform partners' compliance measures to restore integrity of search ecosystems. All of these factors lead to a widening gap between perceived intent and true quality in the advertiser's digital media experience, as well as a more difficult operating environment for those reliant on legacy technologies. Put simply, our industry is ripe for disruption. When I was contemplating the CEO role at Anuvo, I had a front row seat for nearly a year to intend Key's leading edge tech that I believe is both undervalued and a true antidote to the shortcomings of legacy systems. While today the field is littered with legacy ad techs that over-promise and fail to deliver on their AI-powered promises, Intenki was purpose-built for the agentic era. Advancements in adaptive buying systems are very real and establish a widening arena for our generative AI to be deployed within other agentic workflows as an intelligence layer. IntendKey provides custom adaptive audience models in real time, utilizing a large language model that doesn't depend on cookies or other legacy technologies that are being scrutinized by increased regulation and privacy concerns. But the real value proposition is in its speed. IntendKey's actionable intelligence leverages predictive AI, enabling users to enter bid streams faster. up to 24 hours ahead of market moves when supply and demand dynamics favor higher returns on advertising dollars. As budgets are tightening and return on advertising spend is decreasing at an alarming rate, we have a technology that can identify new prospects and accelerate conversion with dynamic audience modeling. What's more, I believe there is a tremendous opportunity for us as a data provider. Leveraging our IntenKey product, there is a path to pursuing data deals that allow advertisers and marketers to directly use IntenKey to custom design their audience models and execute media buys with minimal friction. This shift will require deeper SSP and DSP integrations. but will return a more scalable, reoccurring revenue model going forward. I see an opportunity here to leverage this technology towards higher margin growth, resulting in a more resilient business for a new. And we have a team that's ready to execute. The shift will take time, but I believe we are well positioned to exploit this market window with a proprietary disruptive technology that is well ahead of the competition. 2026 is about exploiting near-term opportunities while laying the groundwork for this evolution. My plan is centered upon four strategic pillars. First, a refined go-to-market focus. As the ad agency complex continues to contract, it's imperative that we transition towards high margin upstream strategic engagements. To do this, we will execute on three primary fronts. One, pursue large, high-value deals with CXOs inside of brand organizations, leaders who control budgets and are ensnared by diminishing returns in performance marketing. By pursuing relationships further up in brand authority, I believe we can harness an opportunity to provide brand stewards with greater transparency and actionable information that can help these brands grow while also increasing our profit margins. Two, big partnerships where we can integrate IntenKey both as a service and as a data provider. Because IntenKey can integrate into these legacy and emerging buying systems more effectively than other technologies, I believe we have an opportunity to create exponential growth through integration in ways traditional competitors cannot. What's more, we believe we have a commanding advantage in this area with our large language model, positioning us to become a leader in helping brands navigate this rapidly evolving programmatic landscape. And three, align our deal teams and sales organizations to support high-potential verticals. This is a continuation of the work I started as Chief Operating Officer and is an important step toward the kind of growth I envision for the organization. My second pillar is raising in 10 keys industry profile. The evolution of our industry has laid bare two strategic imperatives for brands. The first imperative is speed, advertising alignment, and ROI in an environment where structural foundations of legacy systems are faltering. The second of these imperatives is the need for privacy first consumer protection. In this environment, IntentKey's value proposition is clear and significant, and yet I believe undervalued due to a lack of brand awareness. IntentKey is not just another AI-powered ad platform. It's a platform that provides intelligence and a meaningful strategic advantage to its users. We have a significant opportunity to drive growth by translating IntentKey's value proposition into sustainable high retention revenue growth through vertical marketing of the IntentKey platform, clearly articulated branding of IntentKey's value proposition and 24-hour advanced prediction capabilities and promotion of the brand by showcasing an elevated user experience through intent path. The third pillar is continuous product innovation. Enuvo's core competitive advantage is intent discovery delivered through a suite of advanced visualization and compliance tools. We believe that continued advancement of those tools through the adoption of new features integrations with new DSPs and enhanced privacy features can both deepen budget commitments from our traditional media customers and expand our potential addressable market into other privacy sensitive verticals. And lastly, our fourth pillar is high margin growth. Through successful execution on the first three pillars, and an increased focus on driving platform-led higher margin revenue into the business, we can strengthen the company through improved profitability, liquidity, and financial resilience. As I sit here today, I believe we're already making some early progress on these four pillars. With respect to our go-to-market strategy, we will continue to be drawn to enterprise-grade sales directors, individuals who can engage with CXOs on a strategic plane versus a transactional basis. These sales directors will court evolved marketers who recognize IntentKey as a foundational intelligence layer for the age of intent. With this talent in place and aligned with our target verticals, we are positioning ourselves to secure the large service contracts and integrations that can drive stickier compounding revenue over the long term. As I mentioned on our January call, we entered 2026 with the strongest sales pipeline for Intenkey we've had to date. This builds upon the 83 new clients acquired in 2025. Overall, early year performance reflects improved retention quality, higher average budget commitments, and stronger revenue visibility compared to the prior year. In addition, we continue to have active discussions with several high potential IntenKey customers. I hope to share a few of those brand names next quarter. The nature of IntenKey integration and testing necessitates a longer lead-up to deal closings. Still we expect Intenkey's adoption trajectory to grow beyond historical levels. With respect to raising our industry profile, in the weeks ahead we'll be launching a product-specific website for Intenkey to further support our sales teams and to encourage self-service trials. This site We'll host product videos and we'll showcase new product capabilities. Our corporate site, anuvo.com, was refreshed this week. And as a leading ad platform in the search marketplace, we launched clicktransparency.org, which elevates an urgent existing industry initiative to restore click integrity and by setting new standards that will drive out low-quality traffic to the ecosystem at large. This initiative is meant to drive greater transparency, effectiveness, and safety for consumers, publishers, and advertisers they serve. Its charter is aligned with our platform partners, and we are already getting the attention of other ad techs, competitors, and some of the largest ad tech platforms in the world. And with respect to product innovation, we've recently completed integrations with SSP and DSP providers that will expand our addressable market by enabling us to bring intent key to companies in new privacy-sensitive industry verticals, including pharmaceuticals, healthcare, and government. We are acting with urgency and investing in lead generation and outbound marketing campaigns laying the groundwork for addressable market growth in the near term and a transformation to a data provider in the long term. While it's still early, I'm happy to report we are already in active discussions with companies who require the functionalities provided by these new integrations whose needs we couldn't address under prior data sources. In addition, We recently began a pilot of a new social media offering that brings in 10 key audience intelligence to social media campaigns, effectively opening up a new channel to our sales function. And we are currently exploring ways to expand our offerings into the AI chat environment to harness opportunities arising out of the rapid adoption of AI-assisted search. And lastly, we're in the process of migrating our data centers to the AWS cloud, which will provide cost savings, greater scalability, and resiliency as we accelerate growth. With respect to high margin growth, successful execution in pursuing growth in our higher margin self-serve and in 10 key products should translate into stronger financial results. and a more financially resilient company in the future. Now, I want to be frank. The last couple of months has been challenging for the platform side of our business, even though IntentKey is showing robust signs of growth early in the new year. After bottoming out in mid-January, I'm pleased to say that our platform products have seen signs of recovery. However, we believe the recovery process will be gradual. In light of this, we're taking prudent steps to contain costs where we can until the business returns to normative sales velocity. We're onboarding new partners week over week. In the meantime, our AI-powered quality assurance feature, Ranger, is live and is continuing to ensure quality, alignment, and compliance, closing the gap that necessitated the fourth quarter reset of the system. We remain confident that as we work our way through the self-imposed pullback on this side of the business, we are unlocking our ability to grow sustainably in the future from a more solid foundation. Our industry is at an inflection point. However, it's clear to me that the market is coming around to us and importantly to Intenke. Now is the time to move with urgency, driving towards a more durable, compounding future that has much to offer in this changing marketplace. We are working to harness the opportunities before us and believe we have the right strategy to return to strength in the months ahead. With that said, I'll hand it over to Wally. We'll take you through the financials.